Real estate investment trust Sun Communities Inc. has agreed to pay about $1.32 billion including debt for a portfolio featuring 59 manufactured home communities from private equity real estate investment firm Green Courte Partners LLC, the companies said Wednesday.
Credit Suisse Group AG on Thursday became the latest major bank to disclose it is under government investigation around the operation of alternative trading systems, the class of off-exchange venues that include dark pools.
When issues arise in a deal, don’t stand on ceremony, cite precedent or say, “this is how it is always done,” but instead try to offer creative solutions, says Craig Sklar of Seward & Kissel LLP.
Labaton Sucharow LLP attorneys struck a deal with federal prosecutors to allow discovery in their securities fraud case alleging Massey Energy Co. misrepresented its poor safety record leading up to the worst U.S. mining disaster in 40 years, providing the leverage needed to reach a $265 million settlement for plaintiffs led by a pension fund last year.
Investors accusing JPMorgan Chase & Co., Bank of America Corp. and other large banks of manipulating foreign exchange rates on Tuesday pushed back against a collective bid to quash the lawsuits, saying the financial institutions are breezing over the extensive public record documenting the fraud.
The day has come for the U.S. Securities and Exchange Commission to play one of its wild cards: the subpoena. At this point, the agency’s inquiry has grown into a full-blown, formal investigation, and defense counsel should look at how they can control what the SEC asks from their client while figuring out where they fit within the overall investigation. This is the third in a four-part series on making the best of an SEC investigation.
Several Wall Street lobbying groups urged a D.C. federal judge on Wednesday to vacate the Commodity Futures Trading Commission's controversial cross-border swaps rules, maintaining the agency failed to conduct necessary rulemaking procedures before setting up the regulations.
The Sixth Circuit late Tuesday gave retiree groups that have inched toward abandoning their fight against Detroit’s pension-cutting plan a Thursday deadline to make up their minds, saying their decision can't wait because the appeals must be resolved before the city’s blockbuster confirmation trial.
Bank of America NA on Wednesday filed a disclosure statement for its proposed Chapter 11 reorganization plan for Security National Properties Funding III LLC on behalf of lenders, saying attempts at consensual resolution have failed as the debtor's properties have underperformed.
Snapchat, maker of a mobile app that shares photos briefly before deleting them, may become the latest tech startup with an 11-digit valuation while Germany's ZF is preparing to pour out $12 billion to snap up U.S.-based TRW Automotive.
Eleventh-hour negotiations between the Republic of Argentina and hedge funds demanding full repayment on approximately $1.5 billion worth of government bonds collapsed late Wednesday without a deal, and a court appointed mediator said the country will “imminently" default on its sovereign debt.
A former equity research analyst who admitted to passing inside information concerning a 2009 Web search partnership between Microsoft Corp. and Yahoo Inc. has asked a New York federal judge to allow him to visit his family in India.
The United Kingdom’s Upper Tribunal on Wednesday upheld a regulator’s ban of former hedge fund CEO Alberto Micalizzi from working in financial services for lying to investors about losses involving a fund he ran at now defunct Dynamic Decisions Capital Management during the credit crisis.
An appeals court ruled Wednesday that billionaire Alexander Vik's trading fund Sebastian Holdings Inc. must pay Deutsche Bank AG $243 million within weeks or forfeit the chance to appeal a loss in their $8 billion war over Great Recession trading losses.
Directors of KKR Financial Holdings LLC urged a Delaware Chancery Court judge Tuesday to toss a putative class action brought by KFN shareholders allegedly shortchanged in a $2.6 billion takeover by KKR & Co. LP, contending the deal was a legitimate exercise of their business judgment.
Investment firms holding euro-denominated restructured Argentine debt on Tuesday asked the U.S. federal judge overseeing Argentina’s fight with hedge funds holding about $1.5 billion in government bonds for more time to reach a settlement, as Argentina teeters on the brink of default.
A District of Columbia federal judge has thrown out a lawsuit filed by convicted Ponzi schemer R. Allen Stanford's receiver against Proskauer Rose LLP, finding that shuttling the malpractice case back to Texas federal court, from where it was remanded in December, would not be in the interest of justice.
The Financial Industry Regulatory Authority on Monday filed charges against a New York-based broker-dealer and several current and former registered representatives, accusing them of engaged in rampant churning of customer accounts and other misdeeds that caused significant losses to retirees and other investors.
A Barclays PLC investor filed a securities class action against the banking colossus on Tuesday, saying it kept mum about willful mismanagement of its off-exchange trading pool right up until New York's attorney general revealed the alleged malfeasance in a dramatic suit last month.
The former chief financial officer of bankrupt Fair Finance Co., currently serving a 10-year prison sentence, has agreed to pay $1.76 million to the company's bankruptcy trustee after participating in a $200 million scam involving the CEO of movie company National Lampoon Inc.